Bitcoin Forecast — December 7th 2018

Bitcoin/USD — Once again the markets attempted to rally, but failed due to bearish pressure. However, it looks like the markets have found a temporary support here before another major breakdown. Bitcoin suffers from the fact that it is just a cryptocurrency. It lacks any kind of adoption by major banks or governments.

The market is in a downtrend. The 2,500 is the next target to the downside. To the upside, a candle close above the 50-period EMA is needed in order to buy. But that looks less likely at the moment. So, you can see short-term rallies that show signs of exhaustion as selling opportunities.